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URBANIZATION ECONOMIES: A reduction in production cost the results when diverse activities are located in a concentrated urban area. Urbanization economies applied to all types of activities that benefit from assorted urban "amenities" such as public utilities, government services, information services that are inclined to experience decreasing average cost with large scale production. If, for example, a city has sufficient demand for a more efficiency, larger scale electrical generation plant, then everyone can benefit from lower electricity rates.
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CHANGE IN SUPPLY A shift of the supply curve caused by a change in one of the supply determinants. A change in supply is caused by any factor affecting supply EXCEPT price. A related, but distinct, concept is a change in quantity supplied.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club wanting to buy either a hepa filter for your furnace or a wall poster commemorating next Thursday. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?
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In the early 1900s around 300 automobile companies operated in the United States.
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"You need just the right amount of ambition . . . If you have too little ambition, you don't push or work hard. If you have too much ambition, you put yourself ahead of others, elbow them out of your way. " -- Andy Grove, Intel chairman and co-founder
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SPO
Strongly Pareto Optimal
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